New Frontier Energy, Inc., a natural resource company engaged in the exploration, acquisition and development of oil and gas properties in the United States, today announced that the Company set production casing in the Robidoux 24-3, the second well in the 2007 summer drilling program at the Slater Dome Field.
"We are pleased with preliminary results of the Robidoux 24-3 and have commenced drilling the third well of our 2007 development program," said Paul Laird, president of New Frontier Energy, Inc. "Since becoming operator of the Slater Dome Field, we have completed workovers on four of the nine producing wells increasing gross production to an average 700 Mcf per day during June, compared to 250 Mcf per day averaged during the preceding six-month period. While the initial production increase is very encouraging, production levels can vary from month to month. Ultimately, as the field continues to dewater, we believe further increases in production are possible."
About New Frontier Energy, Inc.
Based in Denver, CO, New Frontier Energy, Inc. is an independent natural resource company engaged in the exploration, acquisition and development of oil and gas properties. New Frontier Energy has interests in three principal properties, the Slater Dome Field, located in northwest Colorado and south central Wyoming; the Flattops Prospect located in southwest Wyoming; and the Focus Ranch Federal Unit, located in Routt County Colorado adjacent to and southeast of the Slater Dome Field. The company's primary focus is on the development and expansion of the Slater Dome and the Flattops prospects. Both projects are coal bed methane located in the Sand Wash Basin in northwest Colorado and southwest Wyoming -- the south eastern end of the "Atlantic Rim." The company owns a majority of the limited partnership interests in the 18-mile gas gathering line that delivers gas from the Slater Dome and Flattops prospects to a transportation hub. The company's common stock is listed on the over the counter bulletin board under the symbol "NFEI." Additional information about New Frontier Energy, Inc. can be found at the Company's website www.nfeinc.com.
Forward-looking Statements
The statements contained in this press release which are not historical fact are forward-looking statements that involve certain risks and uncertainties including, but not limited to, decreases in prices for natural gas and crude oil, unexpected decreases in gas and oil production, the timeliness, costs and success of development activities, unanticipated delays and costs resulting from regulatory compliance, and other risk factors described from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. No assurances can be given that these statements will prove to be accurate. A number of risks and uncertainties could cause actual results to differ materially from these statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.
Contact:
For further information contact:
New Frontier Energy, Inc.
Paul G. Laird
President
(303) 730-9994
Investor Contact:
BC Capital Partners
Bill Conboy
Phone: (303) 415-2290
Source: New Frontier Energy, Inc.
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